Loan Comparison: 4.17% vs 6.5%
8098 Grady Circle, Castle Rock, CO 80108 · 4bd/2ba · $800,000
List Price
$800,000
Assumable Rate
4.17%
Remaining Balance
$410,222
Equity Gap
$389,778
Loan Type
FHAAdjust Your Scenario
$40,000
$40,000$389,778
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 5.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 4.17% + gap loan
$4,445/moAssumed loan: $1,999/mo
Gap financing: $2,446/mo
$359less per month with the assumable
Your Savings on This Property
8098 Grady Circle, Castle Rock · 4.17% FHA vs 6.5% conventional
$359
per month
$4,310
per year
$129,290
over 30 years
$129,290
interest saved
How gap financing works: The equity gap ($389,778) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($349,778 at 7.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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